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KETTLE RESTAURANTS, INC. PAYS INTEREST ON DEBENTURES

 HOUSTON, Dec. 29 /PRNewswire/ -- Kettle Restaurants, Inc., a Texas corporation ("Kettle"), announced today that on Dec. 29, 1993, it paid to First Interstate Bank of Texas, N.A., the current trustee under the Indenture dated as of Dec. 1, 1984 relating to Kettle's 15-7/8 percent Subordinated Debentures due Dec. 1, 1996 (the "Debentures"), the interest on the Debentures due on Dec. 1, 1993, together with interest on the past due interest from Dec. 1, 1993 through Dec. 30, 1993 at the rate per annum of 15-7/8 percent.
 In addition, on Dec. 23, 1993, Kettle and Foothill Capital Corporation executed a loan commitment letter providing for a one-year term loan to Kettle of $1,000,000 bearing interest at 11.1 percent per annum. Funding of the loan is subject to the satisfaction of a number of conditions, including perfection of security interests in certain collateral, no material adverse change in Kettle's financial condition, business operations, assets or business prospects, appropriate documentation and receipt of satisfactory legal opinions. Kettle is working toward the satisfaction of these conditions, however, there can be no assurance that they will be satisfied.
 Additional information is included in the Kettle's report on Form 8-K filed with the Securities and Exchange Commission on Dec. 29, 1993. For further information, contact Carlette Woods, vice president-finance and treasurer, in writing, at P.O. Box 2964, Houston, Texas 77252.
 -0- 12/29/93
 /CONTACT: Carlette Woods, vice president-finance and treasurer, of Kettle Restaurants, Inc., 713-524-3464/


CO: Kettle Restaurants, Inc. ST: Texas IN: LEI SU:

LG -- NY025 -- 7804 12/29/93 13:06 EST
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Publication:PR Newswire
Date:Dec 29, 1993
Words:265
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